Economy

Economic activity in the manufacturing sector expanded in June for the fifth consecutive month, according to the latest Report on Business issued by the Institute for Supply Management. "Following a weak first quarter

June opened with a series of reports indicating slow economic growth, but growth nonetheless. The Institute for Supply Management's latest Manufacturing Report on Business logged the fourth consecutive month of expansion.

"Total construction spending inched up in April, as nonresidential outlays shook off the plunge in homebuilding and sluggishness in gross domestic product (GDP)," Ken Simonson, chief economist for the Associated General Contractor

Real domestic product increased at an annual rate of just 1.3 percent in the first quarter, the slowest since first quarter 2003, according to advance estimates released Friday by the U.S. Bureau of Economic Analysis

Retail sales are generally positive across the country but manufacturing in some areas continues to feel the pinch of weakening home sales, according to the latest Beige Book, a summary of economic condition

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Real gross domestic product increased at an annual rate of 2.5 percent in the fourth quarter of 2006, according to final estimates by the Bureau of Economic Analysis. Earlier BEA estimates put fourth quarter growth at 2.2 percent.

Economic activity in the manufacturing sector expanded in February, according to the latest Manufacturing Report on Business from the Institute for Supply Management (ISM).
"February proved to be a good month

Federal Reserve Chairman Ben Bernanke told Congress Wednesday that U.S. economic growth is in line with expectations and there's still a reasonable possibility that we'll see a rebound later this year.

Conditions appear to be in place for a good year for the U.S. economy, which is likely to be marked by moderate, sustainable growth and lower inflation, Federal Reserve Board Vice Chairman Donald Kohn recently told the Atlanta Rotary Club.